Mr. Schneider (for himself, Mr. Carney, Mr. Mulvaney, and Mr. Scalise) submitted the following resolution; which was referred to the Committee on Ways and Means

RESOLUTION

Expressing the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.

Whereas pass-through entities such as S corporations, partnerships, limited liability companies, and sole proprietorships account for more than 90 percent of all business entities;

Whereas the Internal Revenue Service reports 4.5 million S corporations, 3.5 million partnerships and limited liability companies, 23 million sole proprietorships, and less than 2 million C corporations;

Whereas pass-through entities are taxed at individual income tax rates; and

Whereas the top pass-through tax rate is now 39.6 percent for taxable income above $400,000 and the top corporate income tax rate is 35 percent: Now, therefore, be it

That it is the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.